Markets end higher; two wheeler stocks skid

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Markets end higher; two wheeler stocks skid
Markets ended the higher after trading in a narrow range for most of the day, led by sharp gains in Hindustan Unilever and IDFC. The Sensex ended the higher by 45 points, while the Nifty closed the day higher by 12.45 points.

Among the top gainers in trade today were IDFC, which surged more than 4% on hopes that reforms in the infrastructure sector would benefit the company.

Other gainers in trade today were Siemens, Dr Reddy's Laboratories, Hindustan Unilever and Ambuja Cements. Shares of automobile companies, including those of two-wheeler manufacturers lost significant ground today with HeroMotor Corp, Bajaj Auto and TVS Motors amongst the losers.

Shares of FMCG companies witnessed a mixed trend with Hindustan Unilever rallying more than 2%, while ITC shed recent gains.

Banking stocks ended the day mixed with ICICI Bank ending marginally higher, while HDFC Bank and Axis Bank were amongst the losers.

Among the top loser from the Nifty stock was Jindal Steel, which shed more than 4% in trade today. From the non index losers Kingfisher Airlines lost more than 5% and hit the lower end of the circuit filter on continuing employee unrest at the company.

Markets are expected to trade in a range in the absence of any major triggers. Global events will ensure volatility, especially as problems in Europe re-surface.

Read more about: sensex, nifty
Story first published: Wednesday, October 3, 2012, 15:07 [IST]
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